Category Archives for Transportation Equipment Leasing

Dump Truck Leasing

 

Does Your Business Need To lease Finance a New or Used Dump Truck?

Dump Truck leasing can be an excellent and cost effective solution to provide the capital your business needs to acquire fixed assets.

While technically a leasing company will be the owner of the truck at the time the lease is set up and during the lease term, you can have different buyout options to purchase the asset at the end of the lease term if you so choose.

For new dump truck lease financing, there are a number of leasing companies that have a focus on transport equipment leasing opportunities and can provide excellent rates and terms for these types of assets.

Depending on the credit and financial profile of your business, leasing rates for “A” credit applicants are directly comparable to bank interest rates on equipment loans, but with higher loan to value lending in many cases where you can get financing at or near 100% of the purchase price of the dump truck.

With lower levels of credit, there are other leasing options available as well, but rates will be higher and terms more conservative in order to reduce the financing risk to the leasing company.

For used dump truck leasing, there are also a number of potential options available as well, depending on the make, age, and condition of the unit.

Even though used dump truck financing will likely not provide the same terms as new with higher down payments required and shorter repayment terms on average, equipment leasing can still be an excellent approach to financing this type of purchase.

Get Dump Truck Leasing That Meets Your Business Needs

Depending on your cash flow and tax planning requirements, there can be a lot of flexibility on the end of term buyout amount that is written into the lease.

In some cases, a balloon payment greater than 10% can be written into the end of the lease term to reduce your cash outlay on a monthly basis to the lowest possible level.

If cash flow is not a concern, then a capital lease can be structured that functions very similarly to an equipment loan from an accounting and bookkeeping point of view.

If you have a dump truck lined up for financing or just want more information on the leasing process, give us a call and we’ll get all your questions answered right away.

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Boom Truck Leasing

 

Does Your Business Need To lease Finance a New or Used Boom Truck?

Boom truck leasing can be a very effective means for securing the capital equipment you need to operate your business.

While not every leasing company has a focus or even interest in truck leasing opportunities, there are certain companies where this is a major focus of their lease financing efforts.

Leasing companies that have a focus in transportation equipment leasing will also tend to offer both capital leasing and operational leasing options as they are well in tuned with the used equipment market and know how to move or sell off assets that they may come into possession of at the end of a lease term or in the event of lease obligation default.

Going one step further, an item like a Boom Truck is slightly more specialized, so there can be some differences in the equipment leasing rates and terms you may be able to secure from one company than another.

This is one of the reasons why it can be important to work with a knowledgeable equipment leasing broker who can steer you in the direction of the leasing companies that are more likely going to be a good fit for your boom truck leasing requirements at any given point of time.    The timing is key as leasing companies will change their appetite towards certain assets over time, so its always important to be focusing on the source of financing that is the best fit for you today versus anything that’s happened in the past.

Get Boom Truck Leasing That Meets Your Business Needs

Once you have identified a leasing program that is a good fit for your requirements and financial profile, the next decision is whether or not you should be taking an operating lease or a capital lease.

For transportation equipment, this tends to be more of a significant decision point than for other types of equipment with very long useful life and relates to your strategy or business practices regarding equipment replacement over time.

For this and other considerations, we suggest that you give us a call so we can get all your questions answered and provide boom truck leasing options for your consideration.

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Triaxle Float Leasing

 

Does Your Business Need To lease Finance a New or Used Triaxle Float?

Triaxle float lease financing, as you would expect, is provided primarily from leasing companies that have a transportation equipment focus.

Just remember at the same time, that not all equipment financing sources are transport leasing companies and each transportation leasing group will have their own areas of focus with respect to asset type and new and used financing programs.

Because of the potential long term viability of these types of assets, used triaxle float trailers can be financed at very good rates and terms.  The key is to be applying to those sources of financing that are not only going to be interested in this type of asset, but are also going to be able to provide a competitive market offer.

The best way to locate and secure appropriate financing that meets your requirements in the time you have to work with is by utilizing the services of an equipment leasing specialist.

Get Triaxle Float Leasing That Meets Your Business Needs

Both new and used triaxle floats can be financed under operating or capital leases.  Once again, some leasing programs may not support both types of deal, but there will likely be several options within the overall market.

Operating leases can be used on one hand to accelerate asset write down and help reduce income taxes, or on the other hand conserve cash flow by providing a balloon payment at the end of the lease term.

Capital leases function more like an equipment loan with a nominal purchase price at the end of the lease term to acquire the asset and an amortization schedule for principal and interest payments during the lease term.

Lease financing is the most common source of transportation equipment financing and as a result there are likely going to be leasing options available to you, regardless of the current condition of  both your business or personal credit profiles.

Regardless of your triaxle float trailer requirements, the best first step in getting your lease financing in order is to give us a call so we can quickly assess your requirements and provide relevant equipment leasing options for your consideration.

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Motor Coach Leasing

 

Does Your Business Need to Lease New Or Used Motor Coaches?

Motor Coach leasing and passenger bus leasing are available for both new and used vehicles from several of our equipment leasing partners located in Canada and the U.S.

There are programs available for fleet or multi unit motor coach acquisitions versus individual purchases.  For used transportation vehicle leasing, be prepared to provide a detailed vehicle specifications and condition report that outlines the make, model, serial number, year, and features of each unit as well as the complete major repair and servicing list.

Its possible to secure financing without the all the above vehicle specifics, but for older equipment it becomes more and more important not only for getting a lease financing approval, but also for getting better rates and terms as the more accurately the leasing company can understand the exact features and conditions of a motor coach, the more likely they are to provide a better financing offer.

For larger purchases of several units, more attractive rates and terms can be secured for well established companies.

Get Motor Coach Leasing That Meets Your Business Needs

The application process will also require that you provide your last years completed financial statements for the business that will be listed as the lessee for the motor coach as well as a brief description of why the funding is required.  For instance, is the Motor Coach lease financing for fleet expansion or vehicle replacement.  If expansion or growth is the reason, you may also be asked to support where the incremental business is expected to come from, depending on the size of the equipment leasing request.

Also keep in mind that it will be much easier to finance Motor Coaches that are new or less than 5 years old.  That being said, older units that have a reasonable number of miles and are in good condition can still secure lease financing.

If you have a particular unit you’re looking, or a group of motor coaches, give us a call so we can quickly assess your financial profile and provide relevant equipment leasing options for your consideration.

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Used Highway Tractor Lease Financing For Owner Operators

 

Does Your Business Need to Lease a Used Highway Tractor?

For used tractor trailers, semi trailers, highway transport trucks, and other similarly described assets, the sources of equipment leasing have a fairly defined list of requirements they want to see before they will provide lease financing on used equipment.

First, the asset needs to be less than 10 years old with a reasonable about of miles.  The greater the miles, the more information is going to be required on major repairs and maintenance.

Second, because the equipment is used, you can expect to have to put down anywhere from 10% to 20% of the purchase price as a down payment.   At times, used equipment has been leased for less money down, but at the present time, most leasing companies are requiring more cash in the deals.

Third, the operator is going to have to show a basic monthly operating statement to show how they are going to repay the lease.  This should be supported by a contract or letter from the company or companies they are driving for.

Fourth, most owner operators are required to own a house.  Home ownership is less about security to the lender and more about stability of the borrower or at least that’s the theory.

Fifth, the applicant is going to need to have decent credit.  Fair to average credit can get you financed, provided there are good reasons why the applicant’s credit isn’t stronger.  But weak to bad credit with an ongoing listing of late payments will likely lead to a lender decline.

Transport leasing companies will finance used highway tractors to post bankrupt applicants, provided there has been some time since they were released from bankruptcy, that credit has been re-established, and that there are no late payments or issues since release.

Get Used Highway Tractor Leasing That Meets Your Business Needs

For weaker credit scenarios, additional guarantors will also be considered to strengthen the application.

While this is by far a hard and fast list that all lenders and leasing companies will follow, it does provide you with a basic guideline to follow when seeking financing for used tractor trailer assets.

If you have a leasing financing strategy you would like to discuss, give us a call and we’ll go over it together.

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Used Highway Tractor Trailer Leasing Needs.

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